已囤积189150枚BTC 微策略的策略会暴雷吗？

A few days ago, the founder of Microstrategy said that Microstrategy has made another move at an average price and added positions again. As of the end of Microstrategy, the accumulated total cost of accumulated positions is about 100 million dollars. The average cost of adding positions is about 100 million dollars. A simple calculation shows that the net profit of the positions of Microstrategy is about 100 million dollars according to the current price. The teaching chain has compiled the historical data of all the positions of Microstrategy from the beginning of March to the end of June. Since the first batch was bought at the end of the year, Microstrategy has continued to add positions, crossing the bull market high point of bulls and bears, and adding positions The bear market's low-point jiacang climbed over the snow-capped mountains and walked through the grassland. After hardships and dangers, it finally became a positive result. The only function of the bull market is to raise the cost of jiacang. So for long-term hoarders who continue to jiacang, which is a better journey, the generous plateau year of the ox or the sharp mountain year of the ox? Interestingly, it is micro-strategic. No matter whether the bull and bear insist on jiacang, it is the only jiacang strategy suitable for the vast majority of Xiaobai. The article from investing in Xiaobai to financial freedom is particularly noteworthy. It means that there are three basic points of this strategy: one is to add or not to reduce, only to buy or not to sell, two is to add positions in batches, and three is to add or not to touch cottages and local dogs. But in-depth look, in fact, Microstrategy has done some more professional operations than Xiaobai. First, it has been said more than once that Microstrategy will hold their positions forever and never sell them, but he also disclosed at the end of the year that Microstrategy will lend its own money to hedge funds, that is to say, Microstrategy will never sell its own money, but the borrowed hedge funds are certain. Arbitrage by buying and selling coins back and forth is similar to the fact that the Federal Reserve of the US Treasury will not sell the gold it holds, but will lend it to such an investment bank to make a market in the gold market. Therefore, there is an additional risk here that the borrowed hedge fund is screwed up, and the lost hedge fund can't afford to pay the bankruptcy liquidation micro-strategy. If the currency standard is not recovered, the amount of net loss will be an inevitable event in the long run. Not winning bitcoin has been discussed in detail. Some friends may put their digital assets on the wealth management platform to deposit money to earn interest. This is somewhat similar to what micro-strategies do. The risk point is naturally that the wealth management platform loses money or even runs away. The second off-exchange leverage micro-strategy issued some long-term junk bonds in previous years, some of which even have no interest, and the maturity date is as long as several years. Most of them are sure that the price will be higher and higher after several years, which will make micro-strategies enough to repay debts and. It is said that Microstrategy currently holds about 100 million dollars in debt, and the present value of its current position is about 100 million dollars, that is, each knife corresponds to a knife debt. This is not included in other business assets of Microstrategy, and these debts are off-site debts, which will be enough to cover these debts unless they fall below the knife on the maturity date, that is, around the year. However, if Microstrategy is forced to sell such a large amount of debt repayment, it will probably be a heavy blow to the market. Many cake hoarders with mortgages may be similar to the off-site leverage of Microstrategy. Of course, the mortgage has to pay interest every month, and the interest rate is quite high, and it is floating, which is much worse than the leverage of micro-strategy. However, the mortgage is almost the best leverage that ordinary workers can use. The discussion on this issue has written an article about saving 10,000 yuan to repay the loan or hoarding money. Just some time ago this year, micro-strategy issued more shares in the secondary market of US stocks. Financing from the secondary market benefited from this year's market, which strongly promoted the rise of stocks. It is necessary to adopt the way of issuing additional shares to raise funds and increase positions. Some people question whether the micro-strategy will be forced to sell to save the market if it goes down or decoupled from performance, but we should know that the difference between stock financing and bond financing is that stocks do not promise to pay, so even if it falls to zero micro-strategy, it is not clear whether there is equity pledge financing. If there is, the pledged stocks related to stock explosion will be liquidated by brokers, but brokers cannot force micro-financing. Strategy or selling to supplement the deposit, the annual negative premium of gray scale has been demonstrated to some extent. Even at the worst time, the negative premium was as high as about once, but the gray scale remained unchanged. At that time, many people said that the gray scale would be thunderous, but the gray scale was a trust that could not be penetrated by any recourse. Little friends who don't understand can review the teaching chain articles and tear up their feelings and accuse them of being cheated, but the gray scale of tens of billions of pie positions will not explode. The scale of gray scale trust is more than that of micro-strategy positions from the legal firewall. From the point of view, gray trust is definitely more impregnable than micro-strategy, but in any case, even if some netizens say that the users who robbed Bitcoin after the spot listing caused users to sell, it would only be that the US stock market fell or even decoupled from the correlation, but it would not necessarily lead to the micro-strategy being forced to sell positions, and the gray level would not promise and the micro-strategy would not promise forever and consistently. Here, we need to remind some friends who hold bitcoin to pay attention to decoupling and negative spillover. The risk of price is essentially passed on to external investors through the rules of the game. For example, the risk of gray-scale negative premium is blocked by the trust firewall, and the three arrows capital, which is a speculation premium arbitrage, and other speculators refer to the stage play written by the teaching chain. The strategy of spending so little money may also have a negative premium, while equity financing itself cuts off the income commitment and isolates the risk in the US stock market. For ordinary people, there may not be such a commitment-free financing. Capital channels to obtain funds to increase the fourth OTC income. Don't forget that micro-strategy itself has business and business income. It has a steady stream of OTC cash flow to support its warehousing behavior. Of course, this is similar to that of most ordinary cake hoarders. The best strategy is to make money off-site to increase the position with the income earned off-site. In summary, we can see that micro-strategy can use some financial tools that ordinary people can't get or are better than ordinary people can get to help it better hoard such micro-strategies. It is a high probability that people can beat most ordinary cake hoarders. The excess income earned by others comes from structural advantages. After analysis, micro-strategy may lose its position when extreme black swan risks because of its radical leverage strategy, which may lead to its losing currency standard. However, as long as it continues to beat the traditional world, micro-strategy is probably difficult to storm. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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